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CalAmp Corp Announces Pricing Of Common Stock Offering


Thursday, 14 Feb 2013 08:11am EST 

CalAmp Corp announced the pricing of an underwritten public offering of 4,500,000 shares of its common stock at $9.25 per share. The underwriters have a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 675,000 shares to cover over-allotments, if any. The offering is expected to close on February 20, 2013, subject to customary closing conditions. The Company expects to receive net proceeds of $39.0 million, after deducting underwriting discounts and estimated offering expenses, assuming no exercise of the underwriters' over-allotment option. CalAmp intends to use the net proceeds from the offering to fund a portion of the purchase price for its previously announced pending acquisition of the operations of Wireless Matrix Corporation. Canaccord Genuity Inc. and B. Riley & Co., LLC are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC, Northland Securities, Inc. and First Analysis Securities Corporation are acting as co-managers for the offering. 

Company Quote

19.78
0.12 +0.61%
18 Dec 2014